This invention relates generally to a picture hook and especially to a picture hook which permits varying or adjusting the position of the picture on a wall after hanging of the picture. While picture hooks have taken various forms, such conventional picture hanging hooks have not made it possible to easily vary or adjust the position of a picture, after the hook was fastened to the wall, without tilting the picture. Picture hook arrangements providing for any adjustability, furthermore, have been complex in design, costly to fabricate, and difficult to install by the user.